EURUSD Losing Bullish Momentum


January 8, OctaFX – The euro is starting to lose ground against the US dollar currency, after a failed attempt to break above the 1.1500 resistance level.

EURUSD Technical Analysis

The recent failure to overcome the 1.1500 level has provoked technical selling back towards the 1.1430 support level. A sustained break from the 1.1360 to 1.1470 trading range will likely provide a directional bias for short-term traders.

  • The EURUSD pair is only intraday bullish while trading above the 1.1470 level, key technical resistance is found at 1.1500 and 1.1550 levels.
  • If the EURUSD pair trades below the 1.1430 level, sellers may towards the 1.1410 and 1.1360 support levels.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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